Common use of Representative Capacity; Nonrecourse Obligations Clause in Contracts

Representative Capacity; Nonrecourse Obligations. A copy of the articles of incorporation, declaration of trust or other organizational document of each Fund has been provided to the Custodian, or will be provided, upon request, and notice is hereby given that this Agreement is not executed on behalf of the directors or trustees of any Fund as individuals, and the obligations of this Agreement are not binding upon any of the directors, trustees, officers, shareholders, unitholders, members or partners of any Fund individually, but are binding only upon the Property of each Fund or Series. The Custodian agrees that no Board, shareholder, unitholder, director, trustee, officer, member or partner of any Fund, Series or Directing Fiduciary, may be held personally liable or responsible for any obligations of any Fund or Series arising out of this Agreement.